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View Diary: All that Bunk About Deficits and Skyrocketing Interest Rates (6 comments)

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  •  I tend to think of complex systems in biological (0+ / 0-)

    terms. I see the term "public debt" in the context of our real sovereign non-convertible, floating rate currency system as confusing. To me it is the cumulative input of external energy to the system. A biological comparison we're all familiar with is sunlight. Earth has very few energy inputs. Sunlight and gravity are the main ones, and for the biosphere it is sunlight. Without it all biological systems would run down. That's entropy. Is there entropy in the economy as well? Should we not consider the "leakages" from the economy due to savings, taxes and trade deficits, "economic entropy?"  If that energy is not replaced, won't the economy simply consume itself?

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